• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Saturday, May 24, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

German citizens can soon trade crypto directly from their checking accounts

by Baisakhi Mishra
December 14, 2021
in Crypto, News
Reading Time: 2 mins read
0
German citizens can soon trade crypto directly from their checking accounts

Image Source: Coinscreed

TwitterWhatsappLinkedin

More than 50 million German savings bank clients will soon be able to trade cryptocurrency directly from their checking accounts. In early 2022, the German Savings Banks Association will decide on a new digital asset services initiative. Crypto wallets will be available in the same year if the plan is accepted.

You might also like

Judge Temporarily Blocks Trump Administration from Revoking Harvard’s Ability to Enroll Foreign Students

Louisiana Becomes First State to Adopt DOGE Voter Maintenance Database

Fire Erupts at Elon Musk’s X Data Center, Sparks Concern Over Safety and Expansion

German citizens can soon trade crypto directly from their checking accounts
Image Source: Coinscreed

By the end of the first half of 2022, Swissquote, the country’s online bank, wants to start a cryptocurrency exchange. The bank’s compliance and customer service workers have been overwhelmed by the crypto rush, according to the bank. German banks are considering introducing cryptocurrency services to their customers in 2022.

Banks across Europe are looking into adding cryptocurrencies to their product and service offerings. Swissquote, the country’s most well-known online bank, recently announced its intention to develop a cryptocurrency exchange platform.

Customers at around 400 German savings banks may soon be able to trade cryptocurrencies directly from their accounts beginning early next year. The German Savings Banks Association may soon allow more than 50 million consumers to purchase digital assets.

Savings banks in Germany are working on a scheme that would allow their customers to trade cryptocurrencies such as Bitcoin and Ethereum. Over 50 million people could benefit from the proposed service.

A dedicated team at S-Payment, an IT service provider, is working on the initiative, which will allow clients to acquire digital goods straight from their checking accounts. Early next year, the committees of the savings banks will be able to vote on the initiative. If the initiative is approved by the banks in early 2022, the first edition of cryptocurrency wallets will be available that year.

Individual savings banks will pilot the wallet first, and they will then be able to determine whether or not to support cryptocurrency trading. According to a report published in the German magazine “Capital,” the banks involved are expressing early interest as investors in the country seek alternate assets. The interest in the new asset class is “massive,” according to a spokeswoman for the German Savings Banks Association.

As the new product is set to launch amid growing inflation, Helmut Schleweis, head of the German Savings Banks Association, claimed that the present rising prices and low-interest rates are a “toxic mix causing an erosion of wealth.”

Germany’s government recently signed a coalition agreement, stating that cryptocurrencies and blockchain will be two of the country’s primary emphasis areas for the next four years.

Users who seek to trade digital assets would not be required to go through additional verification processes as a result of the new service, which might eliminate the need for middlemen such as cryptocurrency exchanges.

If you find this article informative then do not forget to share it with your friends and family!

Also read: The investors’ demands to burn Shiba Inu coins continues

Tags: #German savings banksbitcoinEthereum
Tweet54SendShare15
Previous Post

Tesla merch will be buyable with Dogecoin, says Elon Musk

Next Post

HT Tech: Garena Free Fire redeem codes for December 14: How to get latest codes

Baisakhi Mishra

Recommended For You

Judge Temporarily Blocks Trump Administration from Revoking Harvard’s Ability to Enroll Foreign Students

by Anochie Esther
May 24, 2025
0
Trump

In a pivotal ruling on Friday, a federal judge temporarily halted the Trump administration’s effort to strip Harvard University of its ability to enroll international students a move...

Read more

Louisiana Becomes First State to Adopt DOGE Voter Maintenance Database

by Anochie Esther
May 24, 2025
0
Louisiana

In a significant move to modernize and clean up its voter registration rolls, Louisiana has become the first state in the country to adopt the federal government’s new...

Read more

Fire Erupts at Elon Musk’s X Data Center, Sparks Concern Over Safety and Expansion

by Anochie Esther
May 24, 2025
0
Fire

On an quiet Thursday morning, Firefighters rushed to the Hillsboro Technology Park at 10:21 a.m. after receiving reports of a fire. What they encountered was a smoke-choked room...

Read more
Next Post
HT Tech: Garena Free Fire redeem codes for December 14: How to get latest codes

HT Tech: Garena Free Fire redeem codes for December 14: How to get latest codes

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?